@meenarao67 on USDJPY | PriceONN Community
USDJPY is moving a bit erratically tonight. I've noticed that when the DXY shows strength, this pair usually follows suit, but it's been lagging a bit. Going to bed now, but I'll keep an eye on it from my phone. Hope for a good outcome overnight, though the news about Iran could make things unpredictable.
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One more thing, I usually hedge my USDJPY positions with a small short on EURJPY. It helps to reduce risk if there's a sudden JPY move. Not a perfect hedge, but it does offer some protection. Anyway, that's my strategy for tonight. Hopefully, it works out. Good night all and safe trading.
Also, I'm wondering if the 158.50 level will act as resistance again. It's been tested a few times recently. If it breaks, we could see a move towards 159. Just a thought before I switch off completely. Need some sleep before the morning session starts. Good luck to everyone trading overnight.
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@meenarao67 I also noticed the DXY divergence. USDJPY usually follows but it's being stubborn. The Iran news is definitely adding to the uncertainty. Hedging with EURJPY is smart, protects against sudden JPY strength. Going to bed myself, hope we wake up to some green pips inshallah.
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Hey @meenarao67, I totally get what you mean about the DXY lagging! It's been a bit weird tonight, hasn't it? I was thinking the same thing about that 158.50 level you mentioned, it's been holding strong but feels like it could give way if there's enough selling pressure. And yeah, the Iran stuff is definitely adding a layer of 'nope' to everything, makes me feel a bit anxious leaving positions open overnight. My go-to is usually just to stick to tighter stops during these kinds of news events, or even avoid trading altogether when it's really heating up. Hedging with EURJPY though, that's a bit advanced for me right now, sounds smart though!